HY 2023 Results and Growth Prospects
Composition of alumina and aluminium production costs
Production cash costs (alumina refining)
Input
Costs
H1 2021
Index
H2 2021
Index
H1 2022
Index
H2 2022
Index
H1 2023
Index
Inventory
Flow 4
FY23 Annual Cost
Sensitivity
price
price
Price
price
Price
Caustic Soda 1
274 $/t
535 $/t
675 $/t
595 $/t
432 $/t
13%
13%
14%
14%
13%
14%
13%
Natural Gas 2
2.85 $/t
4.59 $/t
6.02 $/t
7.01 $/t
2.61 $/t
3-4
months
0-1
month
$10m per $10/t
$4m per $0.10/GJ
14%
12%
15%
I
22%
23%
24%
I
24%
Fuel Oil 3
I
64.6 $/bbl
76.3 $/bbl
105.9 $/bbl
93.8 $/bbl
79.2 $/bbl
N/A
$2m per $10/barrel
For personal use only
39%
34%
1.
NE Asia FOB
I
I
I
I
41%
37%
2.
Henry Hub
I
3.
Brent
4.
Based on quarterly standard costing (moving average)
32%
31%
30%
31%
Input
Costs
H1 2021
Index
H2 2021
Index
H1 2022
Index
price
price
Price
H2 2022
Index
price
H1 2023
Index
Price
Inventory
Flow 4
FY23 Annual
Cost Sensitivity
Alumina 5
288 $/t
369 $/t
395 $/t
328 $/t
349 $/t
1 -2
months
$64m per $10/t
34%
34%
32%
33%
32%
32%
Petroleum
Coke 6
373 $/t
491 $/t
695 $/t
719 $/t
636 $/t
Coal Tar Pitch
748 $/t
818 $/t
1103 $/t
1476 $/t
1399 $/t
2-3
months
1-2
months
$11m per $10/t
$2m per $10/t
FY 2021 H1 2021
H2 2021 FY 2022 H1 2022 H2 2022 H1 2023
Rio Tinto
Energy
Caustic
Bauxite
Conversion
5.
LME Australia
6.
US Gulf (FOB)
7.
North AM (FOB)View entire presentation